Tyler Perry is officially a billionaire
ATLANTA - Tyler Perry is officially a billionaire.
Forbes has published a new report detailing the media moguls rise from poverty to success.
Perry, who dropped out of high school and at one point lived in and out of his car while trying to start his work in theater, is now worth over a billion dollars, most of which comes from his library of productions that he owns all the rights to.
Perry has so far created 22 feature films, over 20 stage plays, 13 television shows, and two bestselling books. The Atlanta-based producer was one of the first major filmmakers to power back up production in the wake of the coronavirus health crisis.
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He also owns Tyler Perry Studios, the 330-acre studio lot in southwest Atlanta, which Forbes says is worth around $280 million.
Tyler Perry speaks on stage at 2019 ESSENCE Festival Presented By Coca-Cola. (Paras Griffin/Getty Images for ESSENCE)
The entertainment mogul is not hoarding his wealth too. He is known for his charitable works around the metro Atlanta area, paying for groceries for seniors during the COVID-19 pandemic and spending over $400,000 to pay for the layaways of customers at Walmarts in the area during the holiday season.
Perry also paid for the funeral expenses of Rayshard Brooks, who was shot and killed by a police officer in downtown Atlanta, and 8-year-old Secoriea Turner earlier this year.
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This year, he and his foundation are the recipients of the Television Academy's 2020 Governors Award, honoring him “for his unprecedented achievements in television and his commitment to offering opportunities to marginalized communities.”.
The Associated Press contributed to this report.